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Nov 26, 2012
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how do we come to this agreement, we keep hearing left the tax cuts they now warren buffett came out with an op-ed in "the new york times" say saying we should make that 500000 or under because two and 50,000 of their family is not rich and if the tax cuts expire as well they may be in trouble. do you think there is any wiggle room to move at 250,000 number little bit higher? >> would have to raise a significant amount of revenue so we are on a sustainable path. we cut taxes at a time when the economy could not afford it. we baltimore on a credit card. it will be required for the u.s. government on that unsustainable path. but ultimately that is what it will help our economy. david: what about the idea of deductions? even though the deadline is approaching quickly, when i put $25,000 cap on deductions. covering the overwhelming majority of americans. $25,000 cap on deductions it is 40% more than raise the top marginal rates. >> from his very first budget the president proposed limit on functions allowing people to upper income groups deduct 28% rate so you and i get the same benefits
how do we come to this agreement, we keep hearing left the tax cuts they now warren buffett came out with an op-ed in "the new york times" say saying we should make that 500000 or under because two and 50,000 of their family is not rich and if the tax cuts expire as well they may be in trouble. do you think there is any wiggle room to move at 250,000 number little bit higher? >> would have to raise a significant amount of revenue so we are on a sustainable path. we cut taxes at...
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Nov 27, 2012
11/12
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let's make a pledge to warren buffett. how about that one. >> announcer: this is the "bill press show." >> bill: hey, good morning everybody. welcome to the "full court press" here on current tv. this tuesday morning. november 27. so good to see you. thank you for joining us here on the "full court press." as we tackle the big stories of the day. tell you what's going on here in our nation's capital. around the country around the globe and take your calls, of course. you're part of the conversation. we'll hear from you. how about this. with less than a month since president obama's re-election people are already talking about 2016 and here's the good news. newt gingrich yesterday said that he will seriously consider running again. keep your fingers crossed. i mean he made such a total ass of himself this time around, we can only hope that he does it all over again. to the moon! with newt! all right. that's just one of the many topics we'll be covering here on today's "full court press." but first, we start out with the lat
let's make a pledge to warren buffett. how about that one. >> announcer: this is the "bill press show." >> bill: hey, good morning everybody. welcome to the "full court press" here on current tv. this tuesday morning. november 27. so good to see you. thank you for joining us here on the "full court press." as we tackle the big stories of the day. tell you what's going on here in our nation's capital. around the country around the globe and take your...
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Nov 26, 2012
11/12
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and in today's "new york times" warren buffett calls for a, quote, minimum tax for the wealthy writing let's not forget about the rich and ultra rich going on strike. capital gains rates and ordinary income rates are increased. the ultra rich, including me, will forever pursue investment opportunities. buffett calls for the cutoff point to increase from $250,000 to $500,000, by the way. defensem democrats are facing pressure from interest groups who oppose changes to medicare and social security like this one from the aarp. >> some politicians think medicare and social security are just numbers in a budget. well, we worked hard for those benefits. we earned them. and if washington tries to cram decisions about the future of these programs into a last-minute budget teal, we'll all pay the price. >> and there's your potential pressure from the left. gop negotiators have put adjusting the measure of inflation which determines social security benefits back on the table, something the president had agreed to in 2011. majority leader harry reid has ruled that out this time and the number two
and in today's "new york times" warren buffett calls for a, quote, minimum tax for the wealthy writing let's not forget about the rich and ultra rich going on strike. capital gains rates and ordinary income rates are increased. the ultra rich, including me, will forever pursue investment opportunities. buffett calls for the cutoff point to increase from $250,000 to $500,000, by the way. defensem democrats are facing pressure from interest groups who oppose changes to medicare and...
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Nov 27, 2012
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who are now paying so much less, paying what mitt romney paid, paying what warren buffett pays, 14 or 16%, because of capital gains and other investments, what about a minimum tax that would require them to pay 35%? >> the president has supported the buffet principle for a long time and his state of the union address last year, he supported buffet rule which would set a minimum tax for those who are the most wealthy. but we have a set of problems we need to address. and this requires a comprehensive solution and most importantly, we need to collect additional revenue from the most fortunate which includes raising tax rates to where they were during the clinton years. >> similarly, what about revisiting simpson-bowles? a lot of people are talking about the framework, a lot of work has been done, are there means testing, further means testing of medicare, for instance, or other kinds of delayed medicare enactment, you know, sliding the age, for instance, kicks in other ways to try to down the road at least realize some real money? >> well, i think the best solution would be one that not
who are now paying so much less, paying what mitt romney paid, paying what warren buffett pays, 14 or 16%, because of capital gains and other investments, what about a minimum tax that would require them to pay 35%? >> the president has supported the buffet principle for a long time and his state of the union address last year, he supported buffet rule which would set a minimum tax for those who are the most wealthy. but we have a set of problems we need to address. and this requires a...
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Nov 26, 2012
11/12
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do the markets care when you see the ceos and some of the wealthier people, including warren buffett today in the "times" saying, look, we have got to raise revenues by raising some taxes on wealthy individuals. we saw that from both buffet and radner, very prom negligent well-known financiers but ultimately endorsing what sounds like the obama position. do the markets look to those steps the way we do in politics and say this is more likely to get done or does it not work that way? >> look, the market is hanging on every single development in these negotiations. a couple of days ago leaders came out of the white house and said they had a pretty conciliatory meeting and everything seemed hunky dory at least in that one meeting and the market boomed. people are watching and waiting to see what's happened here. you've got a split on wall street. there are those folks who don't want to see tax increases no matter what under any circumstances ever. and then you have other folks like lloyd blankfein who said they don't mind tax increases on the wealthy as long as it helps us to get to a d
do the markets care when you see the ceos and some of the wealthier people, including warren buffett today in the "times" saying, look, we have got to raise revenues by raising some taxes on wealthy individuals. we saw that from both buffet and radner, very prom negligent well-known financiers but ultimately endorsing what sounds like the obama position. do the markets look to those steps the way we do in politics and say this is more likely to get done or does it not work that way?...
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Nov 27, 2012
11/12
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warren buffett will join us to talk about the looming fiscal cliff and the buffett tax. you can't afford to mix "squawk box" starting tomorrow at 6:00 a.m. eastern. i put away money. i was 21, so i said, "hmm, i want to retire at 55." and before you know it, i'm 58 years old. time went by very fast. it goes by too, too fast. ♪ but i would do it again in a heartbeat. [ laughs ] ♪ ♪ ♪ well that was uncalled for. folks who save hundreds of dollars switching to geico sure are happy. how happy, ronny? happier than gallagher at a farmers' market. get happy. get geico. chances are, you're not made of money, so don't overpay for motorcycle insurance. geico, see how much you could save. nespresso. where i never have to compromise on anything. ♪ where just one touch creates the perfect coffee. where every cappuccino and latte is only made with fresh milk. and where the staff is exceptionally friendly. ♪ nespresso. what else? >>> welcome back. making headlines, conagra foods obtaining ralcorp for cash. ralcorp chose to spin off its post cereal business but we do have a
warren buffett will join us to talk about the looming fiscal cliff and the buffett tax. you can't afford to mix "squawk box" starting tomorrow at 6:00 a.m. eastern. i put away money. i was 21, so i said, "hmm, i want to retire at 55." and before you know it, i'm 58 years old. time went by very fast. it goes by too, too fast. ♪ but i would do it again in a heartbeat. [ laughs ] ♪ ♪ ♪ well that was uncalled for. folks who save hundreds of dollars switching to geico...
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Nov 29, 2012
11/12
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as the chairman just said, for everyone, including warren buffett, ross perot -- they would get tax relief for the first $250,000 of their income as well. you hear some republicans calling this pledge handcuffs that keep them from moving forward. we would hope in the short periodically have before december 31, we would not let a pledge to a special interest supersede the pledge of allegiance to make to our country. finally, once again, the american people are way ahead of the politicians. the american people by two- thirds agree with president obama that we must have a balanced approach to solving deficit issues and moving toward economic growth and job creation. two-thirds. if they were a vote by the american public today, there would be a landslide in favor of providing for the 2% wealthiest americans to pay a little more in taxes to help them get to the point of a balanced approach. a landslide victory. including republicans in america who agree with that. there is no reason to delay. we think we can move forward. the reason there is optimism coming out of this caucus that we can get th
as the chairman just said, for everyone, including warren buffett, ross perot -- they would get tax relief for the first $250,000 of their income as well. you hear some republicans calling this pledge handcuffs that keep them from moving forward. we would hope in the short periodically have before december 31, we would not let a pledge to a special interest supersede the pledge of allegiance to make to our country. finally, once again, the american people are way ahead of the politicians. the...
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Nov 27, 2012
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yesterday, the billionaire investor warren buffett writing in the new york times says he thinks the country would do just fine if we do -- if we go over the fiscal cliff. on our line for independents, should we go of the fiscal cliff? caller: yes, i think we should. although people who want a budget reduction, it would save the country 4 trillion dollars. i was amazed at how fast the democrats adopted mitt romney's -- for these home deductions. these people want to go around saying obama, obama wally is cutting your social security and medicare in your home deductions are really happy. we are not in this for nothing. nobody cares about us because we want to be so proud of president obama. and let him defund social security. the democrats have no intention of ending the debt ceiling now, because they want to give away more democratic priorities. we hostages. when the republicans have not given anything yet, that is what you get here you get your priorities cut. because you did not say a word. so sit back in your house and yelled obama, obama while he takes all of the food out of your mouth.
yesterday, the billionaire investor warren buffett writing in the new york times says he thinks the country would do just fine if we do -- if we go over the fiscal cliff. on our line for independents, should we go of the fiscal cliff? caller: yes, i think we should. although people who want a budget reduction, it would save the country 4 trillion dollars. i was amazed at how fast the democrats adopted mitt romney's -- for these home deductions. these people want to go around saying obama, obama...
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Nov 29, 2012
11/12
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. >> i think -- you know, i listened to warren buffett yesterday and i look at what's going on with these dividend deals. even at these wide stages of previous times don't see to acknowledge the realities of how tax policy alters our behavior. >> right. all right. rick santelli, thanks. steve, thanks. >> when we come back, rising above partisan politics to avoid the fiscal cliff. we will ask senator orrin hatch what each side should give up to try to avoid a debt disaster. "squawk" will be right back. n ts from independent experts and see what criteria they use. such as a 5% yield on dividend-paying stocks. then you can customize the strategies and narrow down to exactly those stocks you want to follow. i'm mark allen of fidelity investments. the expert strategies feature is one more innovative reason serious investors are choosing fidelity. now get 200 free trades when you open an account. >>> can entitlement reform be the answer to avoid going over the fiscal clfr? senator orrin hatch things so. senator hatch, thank you very much for joining us this morning. >> happy to do so. >> you kn
. >> i think -- you know, i listened to warren buffett yesterday and i look at what's going on with these dividend deals. even at these wide stages of previous times don't see to acknowledge the realities of how tax policy alters our behavior. >> right. all right. rick santelli, thanks. steve, thanks. >> when we come back, rising above partisan politics to avoid the fiscal cliff. we will ask senator orrin hatch what each side should give up to try to avoid a debt disaster....
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about this country. >> i never like to go against warren buffett. some say vernon hills bank had regulator problems in philadelphia. i just know that one guy is boots on the ground and other guy is boots in omaha. i think there's a difference. omaha very wealthy area by the way. >> speaking of banks and future for banks, where does the fiscal cliff fit in? stick around for santelli's live interview with sheila bair. up next -- ♪ >> coming up, jim cramer is rested. jim cramer is revved up. jim cramer is ready. six stocks in 60 seconds when "squawk on the street" returns. tdd#: 1-800-345-2550 this morning, i'm going to trade in hong kong. tdd#: 1-800-345-2550 after that, it's on to germany. tdd#: 1-800-345-2550 then tonight, i'm trading 9500 miles away in japan. tdd#: 1-800-345-2550 with the new global account from schwab, tdd#: 1-800-345-2550 i hunt down opportunities around the world tdd#: 1-800-345-2550 as if i'm right there. tdd#: 1-800-345-2550 and i'm in total control because i can trade tdd#: 1-800-345-2550 directly online in 12 markets in th
about this country. >> i never like to go against warren buffett. some say vernon hills bank had regulator problems in philadelphia. i just know that one guy is boots on the ground and other guy is boots in omaha. i think there's a difference. omaha very wealthy area by the way. >> speaking of banks and future for banks, where does the fiscal cliff fit in? stick around for santelli's live interview with sheila bair. up next -- ♪ >> coming up, jim cramer is rested. jim cramer...
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Nov 27, 2012
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. >> warren buffett wrote an interesting op-ed. he is a supporter of the president but said he does not favor raising rates on people making more than $250,000 but said he would support it for people making $500,000. is there an income level where you support or at least not oppose vehemently the idea of racing rates? >> again, you know, i don't think that's a constructive direction to go in. we -- you know, we could just keep adding ever more brackets, and ever more burdens on people who are productive or have a couple of good years in their business. i think all of that discourages economic growth and discourages risk taking and entrepreneurship. so i'm in favor of moving in the direction of a flatter tax system. of fewer brackets, lower rates, simplicity where we get rid of all the distortions that happen in the tax code, rather than speculating about how many different new brackets we should create. >> i want to get to benghazi. on taxes you talk about closing loopholes and reducing destructions. grover norquist says that would
. >> warren buffett wrote an interesting op-ed. he is a supporter of the president but said he does not favor raising rates on people making more than $250,000 but said he would support it for people making $500,000. is there an income level where you support or at least not oppose vehemently the idea of racing rates? >> again, you know, i don't think that's a constructive direction to go in. we -- you know, we could just keep adding ever more brackets, and ever more burdens on...
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Nov 28, 2012
11/12
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buffett but the other guy. soros came by and had a great conversation. ralph nader has been by. >> jack abramoff. >> yeah, years ago. >> what did you learn from his fall from grace? >> he did me a favor of not actually involving me in his problems which was good. but i think he spent too much time trying to make money and not enough time trying to change the world. >> are you still friends with him? >> i haven't talked to him in a long time but i have never said anything is notty about him, i don't disease like him. >> as we go, you have an unusual hobby. tell us about that. you collect something unusual. >> oh, i have a collection of whackers, things you hit people with, mostly from africa. i also have -- i also have a collection of air sickness bags from most of the world. if anybody here travels. and the one thing i do ask people who come to meetings, if you're traveling and you're on one of these really -- i have an air sickness bag which is the prepresent government afghanistan air sickness bag. it's a gre
buffett but the other guy. soros came by and had a great conversation. ralph nader has been by. >> jack abramoff. >> yeah, years ago. >> what did you learn from his fall from grace? >> he did me a favor of not actually involving me in his problems which was good. but i think he spent too much time trying to make money and not enough time trying to change the world. >> are you still friends with him? >> i haven't talked to him in a long time but i have never...